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<Research>CICC Cuts GIANT BIOGENE's TP to HKD56, Still Upbeat About Medium- to Long-Term Growth Potential
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GIANT BIOGENE (02367.HK) has announced a plan to repurchase no more than 104 million shares (10% of its issued shares) and communicate with the capital market regarding its strategies for product matrix expansion, brand operations, and channel development by 2026. In CICC's opinion, the buyback demonstrates GIANT BIOGENE management's confidence. With its R&D capabilities, brand recognition, and team cohesion remaining strong, GIANT BIOGENE is expected to improve operations through optimizing product structure, timely adjustment of operational strategies, and the growth of its second curve medical beauty business. CICC is upbeat about the company's medium- to long-term growth potential as a leader in recombinant collagen. GIANT BIOGENE's target price was reduced by 20% to HKD56, with an Outperform rating remaining unchanged. AAStocks Financial News |
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